Prospectus excerpt:  M&T Capital Trust IV, a Delaware statutory trust, which we refer to as the ôTrust,ö will issue the Enhanced Trust Preferred Securities, which we refer to as the ôCapital Securities.ö Each Capital Security represents an undivided beneficial interest in the Trust. The only assets of the Trust will be the 8.500% Junior Subordinated Debentures due 2068 issued by M&T Bank Corporation, which we refer to as the ôJSDs.ö The Trust will pay distributions on the Capital Securities only from the proceeds, if any, of interest payments on the JSDs.

The JSDs will bear interest on their principal amount from and including January 31, 2008 at the annual rate of 8.500% payable quarterly in arrears on March 15, June 15, September 15 and December 15 of each year, beginning on March 15, 2008.

M&T Bank Corporation has the right, on one or more occasions, to defer the payment of interest on the JSDs for one or more consecutive interest periods that do not exceed five years or, if earlier, until the first interest payment date on which it pays current interest without being subject to its obligations under the alternative payment mechanism described in this prospectus supplement and for one or more consecutive interest periods that do not exceed 10 years without giving rise to an event of default. In the event of M&TÆs bankruptcy, holders of the JSDs will have a claim for deferred interest that may be limited.

At M&TÆs option, the Capital Securities may be redeemed (i) at 100% of their liquidation amount on or after January 31, 2013 or prior to such date after the occurrence of a ôtax event,ö ôcapital treatment event,ö or ôinvestment company event,ö as described herein, or (ii) at a make-whole redemption price after the occurrence of a ôrating agency event,ö as described herein, in each case plus accrued and unpaid distributions through the date of redemption. Any redemption, repayment or purchase by M&T prior to January 31, 2048 is subject to the replacement capital covenant described herein.

The JSDs will mature on January 31, 2068.